How to Profit from Low-Risk Trades: Stock Picker

Stocks started the new month and quarter higher after an economic report showed a boost in consumer spending. Carlo Panaccione, founder of Navigation Group, and John Lekas, CEO and portfolio manager of Leader Capital, shared their insights.

“The market’s starting to trust again and it’s acting like someone looking at their third marriage—they really need guarantees,” Panaccione told CNBC.

He described the tech boom as the “first marriage,” and then the real estate boom as the second.

“And the third time out, consumers, businesses and banks don’t want anything without guarantees, so right now, they’re holding onto cash in corporations,” Panaccione explained. “People are also waiting for the election and tax issues to be cleared up as well as the Fed.”